Long $BSMX Day 18 Analysis

Today was a bad call from yesterday’s game plan. I still think the MM’s are up to something. The volume was still below average, but a good bit more than it has been. Unfortunately, we didn’t get price appreciation, so this is a bad call.

micro analysis

Here is today on the 15 minute chart. The day was a good strong open until about 11:15. It took a hit and was slow to recover as the volume decreased. It was making a good come back until about 2 when it took another quick hit.

The last two candles showed some good absorption, big effort but little result. There were lots of bigger volume bars than usual which accounts for the larger than usual overall volume.

macro analysis

Here is today in the context of the last five days. You see today’s volume was a good bit more than it has been. I’m not real happy about the upper wick on today’s candle, but I see it as an anomaly.

The larger effort of today should have had a larger result. The candle was shorter than some of the previous days that had less effort. This supports my analysis from yesterday the MM’s may be manipulating.

global analysis

Here is the weekly. The last four days have been slightly down, which shows in the weekly being down. The volume is super low so far this week. Unless we see some surge of great volume, I expect it to stay low.

tomorrow’s game plan

I still think MM’s are doing something. Today and yesterday, when I noticed the MM’s may be manipulating, there has been more volatile than usual. The ending price hasn’t changed much, but the action during those days have had bigger swings.

This whole week has been really low volume. It looks as if this whole week has been a low volume test of the upper channel line. I wouldn’t be surprised to see the volume tomorrow be similar as today, possibly more. Perhaps some pullback in the morning as it gets closer to upper channel line, but green by the close.



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